After maintaining the competitive rates on its long-term CDs for the last year, Texas-based Red River Credit Union (RRCU) recently raised the rates on its short-term CDs. Both 12-month CD and 18-month CD currently earn 1.06% APY, following significant increases of 25 and 20 bps, respectively. The minimum opening deposit is $500 for either CD, with no stated balance cap.
The 12-month and 18-month CDs are also available as IRA CDs (Traditional and Roth), earning the same APYs with the same deposit requirements.
CSR stated that the Early Withdrawal Penalty is 180 days of simple interest on the amount being withdrawn, with partial withdrawals permitted. Dividends can compound, be deposited into a savings account, or be mailed to the address on file.
As I mentioned above, the 36-, 48-, and 60-month CDs have remained competitive and deserve a mention.
Headquartered in Texarkana, Texas, Red River Credit Union’s field of membership (FOM) extends into four states. Individuals who live, work, worship, attend school, or volunteer in any the following counties or parishes are eligible for membership:
Texas: Bowie, Camp, Cass, Delta, Franklin, Harrison, Hopkins, Hunt, Lamar, Marion, Morris, Red River, and Titus.
Arkansas: Clark, Columbia, Hempstead, Hot Spring, Howard, Lafayette, Little River, Miller, Nevada, Pike, Sevier, and Union.
Mississippi: Bolivar (portions), Coahoma, Panola, Quitman, and Tallahatchi.
Louisiana: Bossier and Caddo Parishes.
Although not listed on the Become a Member page, the following appears on the first page of the online application:
I am employed by, worship at, or student of a business/organization in the following location:
Arcadia, LA; Bastrop, LA; Blanchard, LA; Bossier City, LA; Coushatta, LA; Crossett, AR; Delhi, LA; Downsville, LA; East Carroll Parish; Elm Grove, LA; Eudora, AR; Gilliam, LA; Grambling, LA; Homer, LA; Jamestown, LA; Kenner, LA; Lake Providence, LA; Madison Parish, LA; Mansfield, LA; Minden, LA; Mira, LA; Monroe, LA; Morehouse Parish; Plain Dealing, LA; Ruston, LA; Tallulah, LA; Vivian, LA; West Carroll Parish, and Winnsboro, LA.
Relatives of current RRCU members also qualify for membership. “A relative is defined as a spouse, child, sister, brother, grandparent, grandchild, step-relative, and adopted child.”
Joining RRCU can be done online, or at any of 16 Texas branches located in Atlanta, Clarksville, Marshall, New Boston, Paris, Sulphur Springs, Texarkana (9), and Wake Village, or five Arkansas branches located in Ashdown, De Queen, Hope, Nashville, and Texarkana.
As stated on the Certificates page,
CONTACT US to open a certificate today.
Opening a Regular Savings account establishes a Red River CU membership. The minimum deposit includes a $5.00 membership fee and $5.00 minimum balance.
Red River CU has participated in the CO-OP ATM network for about a year, giving members access to fee-free ATMs in
all 50 states, 10 countries, and includes selected locations where members
may shop, like 7-Eleven, Circle K, Costco, Publix, Dunkin Donuts and Rite-Aid.
Credit Union Overview
Red River Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 3.64% (excellent) based on June 30, 2021 data. In the past year, RRCU has increased its total non-brokered deposits by $111.58 million, an excellent annual growth rate of 11.73%. Please refer to our financial overview of Red River Credit Union (NCUA Charter # 5029) for more details.
Founded in 1943 by a small group of the Red River Army Depot employees, Red River Credit Union is one of a handful of credit unions with an original FOM that extended across state lines. The City of Texarkana (home to Red River CU’s headquarters) straddles the Texas/Arkansas border. RRCU is currently the 24th largest credit union headquartered in Texas, with more than 119,000 members and assets in excess of $1.2 billion.
According to the Summer 2021 RRCU Chronicle, RRCU has added a new department: RRCU Express Central, which provides ITM (Information Transaction Machine) that offer face-to-face interaction with a live teller.
Our Express Central staff have decades of advanced product and service experience. Our Express Tellers are excited about this new [to us] technology and are working to ensure members have the best ITM experience possible.
Last quarter, RRCU began adding ITMs to select locations. Two ITMs are in the University Branch drive-thru and one is temporarily located in the Summerhill Branch lobby.
How the CDs Compare
As RRCU’s FOM extends into four states, a comparison to nationally available CDs is appropriate. When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationwide, Red River Credit Union's 12-month CD APY currently ranks first.
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationwide, Red River Credit Union's 18-month CD APY currently ranks first.
The above information and rates are accurate as of 10/7/2021.
To search for the best CD rates, both nationwide and state-specific, please refer to our CD Rates Table page.